If Council and European Parliament come to an instant agreement, a legislative act can be passed in just one reading. By the way, the speed record in passing a new EU law is 1.8 months.

If, however, a legislative act goes to a second or even third reading, it takes considerably longer until a law can come into effect. During the legislative period 2004 to 2009, negotiations took on average 15 months in cases where the EU institutions were able to come to an agreement in one reading. If two readings were necessary, the duration of the discussion process doubled to 31 months; if a third reading was required, the period even extended to 44 months.

The EU organs are obviously aware of this fact and have therefore tried to pass most Directive and Regulatory Dossiers in only one reading. Over the past five years, the negotiations of 72 percent of all legislative acts were finalised in the first reading, compared to 33 percent in the period 1999 to 2004.

Some MEPs, however, have now started to rethink the whole issue. Rushing through EU laws can severely affect the quality of the legislative act. Sometimes, disadvantages only become apparent after the new EU regulations have come into effect. Some MEPs are therefore requesting not to bow under the pressure of Council and Commission to achieve a speedy agreement and to let it come to a second, and if it is necessary, to a third reading.

In view of the sometimes toothless and/or weak Commission proposals, such as the regulations on hedge funds or a new EU Consumer Rights Act, longer discussions will probably be necessary. Regulations on hedge funds, whose main concern is the registration of traders and little else or consumer rights, which make the situation for consumers not only worse, but also spread legal uncertainty, cannot be what the EU legislator intended. Conclusion: a negotiation period of 13 years should remain the extreme case; an agreement of the EU institutions by hook or crook within only a few months, however, is not always the optimal solution.